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About the Role

The Actuarial Assistant program at Munich Re is a rotational program designed to provide you with a strong foundation in the field. Departmental placements will be made closer to your start date based on internal business needs. The rotations will enable you to enhance your technical skills while gaining a holistic perspective of our business; better positioning you towards greater leadership opportunities in the future. Within the rotations, you will be engaged in meaningful actuarial projects with a variety of teams while working towards your FSA designation – with the support of the organization.

Responsibilities

Assist with the completion of experience studies and assist with quote reviews for different lines of business (Life, Longevity, Long Term Care).
Use experience studies to analyze mortality and persistency trends within the life insurance industry.
Conduct research of key trends within the US general population.
Provide the financial results of the US Life & Health business.
Collaborate with many different functions across the company to provide expertise and set assumptions for calculating policy liabilities.
Build and manage complex actuarial models.
Learn the details of current and upcoming regulations.
Perform analysis of the business.
Work closely with other departments to invent creative solutions.
Develop innovative solutions and evaluate product profitability.
Understand key drivers in profitability due to changes in assumptions, reinsurance agreements, industry trends, and product design.
Work on high-impact projects including developing client strategies, building complex actuarial models, reporting key profit metrics, performing market research, and quoting on special business.

Requirements

Demonstrate a natural desire to provide exceptional client service through energy, enthusiasm, and initiative.
Bachelor’s or Master’s degree in Actuarial Science, Math, Statistics, Risk Management, or equivalent program – in healthy academic standing.
Completion of at least two actuarial exams with demonstrated progress towards ASA designation required.
Relevant work experience, having completed at least one relevant internship or co-op work term.
Excellent communication skills – spoken & written, formal/informal presentation.
Demonstrated ability to create and manage positive professional relationships with good client service acumen.
Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance.
Exhibits solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment.
Demonstrates leadership qualities – clear-thinking, curiosity, integrity, and drive.
Proficient in Microsoft Excel, Access, and Word.

Skills

Programming skills (such as, but not limited to: Python, Java, VBA, C/C++/C#)
Familiarity with GGY Axis
Experience with actuarial/financial modeling
Knowledge of the life insurance industry and products

Location

New York, NY
greater New York area

Work Type

hybrid working model of at least 3 days a week in office

Experience Level

entry-level
New Grad

Education Level

Bachelor's degree
Master's degree

Salary/Compensations

$86,000 - $115,000

Benefits

Two options for your health insurance plan (PPO or High Deductible).
Prescription drug coverage (included in your health insurance plan).
Vision and dental insurance plans.
Basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
Short and Long-Term Disability coverage.
Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).
A robust 401k plan with up to a 6% employer match
Comprehensive Actuarial Student Program offering paid study time, exam fee reimbursement, study resources, and rewards for achieving exam milestones
Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
Eligibility to receive a yearly bonus
A variety of health and wellness programs provided at no cost, including a gym fitness reimbursement.
Paid time off for eligible family care needs.
A corporate matching gifts program that further enhances your charitable donation.
Paid time off to volunteer in your community.

About the Company

Together, we engage with everything we have and are, to help humankind act braver and better.
As the world’s leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance.
By turning uncertainty into manageable risk, we enable fundamental change.
We recognize Diversity, Equity, and Inclusion as a key priority with a culture that welcomes different thoughts and opinions.
We dare to think big and are continuously innovating on behalf of our clients.
Our data, our technology, and our teams place us in a unique position to drive transformative change in the life insurance industry.
We invest strategically in our world class talent, offering our employees a work experience that promotes professional development, innovation, and rewards high performance.

Equal Opportunity

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us.
Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work.
We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.
We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.